Meta "applications" are highly customized Unity 3D scenes with a generous amount of custom GUI elements.
I would take everything in this video with a grain of salt.
Also, Meta has a terrible habit of copying logos. Their old logo was a blatant copy of MIT's "M" and their latest is eerily similar to Mazda's "M" series logo
Not really disagreeing since you have more experience with them than I do but if you asked me to write a cursive M, it would probably come out pretty much the same as both. It's like the laziest logo.
Saw the 'cribs' thing about them a while ago and I thought the setup it was interesting but my Wife commented on the 'cult' vibe. What was it like living and working there?
I visited Meta (they were trying to recruit me) about 2 weeks after they moved in there... I won't comment on what I saw there, or my thoughts on Meta, but I will say I take all augmented reality claims with a huge grain of salt. I would say that Meron purposefully is trying to form a cult of personality, and while it may be respected as a Steve Jobs-esque thing in the Valley, it is personally a turn off for me.
Funny thing is that the Portola Valley property is now rented out to a friend of mine, which is subleasing it out to tenants... The TechCrunch video really doesn't do it justice in terms of size, and sadly all but one of the tanks are gone. http://sfbay.craigslist.org/pen/roo/5464646558.html